Join Upcoming Auction for Joint Primary Listing of Maps.me (MAPS)

Dear Users,

BitMax.io is thrilled to announce the joint primary listing of Maps.me (MAPS) under the trading pair of MAPS/USDT. Details are as follows:

Deposit: Jan 26, 10:00 a.m. EST

Trading: Feb 1, 9:00 a.m. EST

Withdrawal: Feb 1, 9:00 a.m. EST

Project Introduction of Maps.me (MAPS)

Click here to participate in Maps.me (MAPS) Auction (PC Only).

To celebrate the listing of Maps.me (MAPS), BitMax will conduct two separate auctions on January 26 from 9:00 a.m. EST to 10:00 a.m. EST. A total of 2,000,000 MAPS will be auctioned between a “Standard” auction with 1,700,000 MAPS and an “Uncapped” auction with 300,000 MAPS.

There will be 850 winners of 2,000 MAPS in the “Standard” auction, and 150 winners of 2,000 MAPS in the "Uncapped" Auction. Both auctions will be conducted simultaneously and BitMax users can bid in both auctions with USDT + BTMX (or BTMXP) to increase their likelihood of winning the auction. Auction results will be announced on January 26 at 11:00 a.m. EST. Please see below for additional details on each auction.

What is BTMXP?

MAPS Standard Auction Overview

Main features of the Standard Auction include price discovery with a minimum and maximum bid amount and participation by bidding 200 USDT + up to 1,400 BTMX or 14,000 BTMXP. BitMax users can earn the eligibility to bid for additional MAPS based on their trailing 5-day average BTMX holdings or trailing 30-day trade volume. If more than 850 bid items with 200 USDT + 1,400 BTMX / 14,000 BTMXP, a random draw will be conducted to select winners. So please bid the cap for your eligibility to win.

Detailed Terms & Conditions:

1. BitMax users with trailing 5-day average BTMX holdings ≥ 30,000 BTMX or trailing 30-day trade volume ≥ 30,000 USDT will be eligible for participation in Standard Auction. Standard Auction allows participants to bid for the chance to win a tranche of 2,000 MAPS. 850 participants will be selected to win the auction with total allocation of 1,700,000 MAPS.

2. The Starting Bid is 200 USDT, indicating a price of $0.10 per MAPS, and the bid cap is 200 USDT + 1,400 BTMX or 14,000 BTMXP, indicating a price of $0.15 per MAPS.

3. Each BitMax user can place bid for up to 6 bid items in the Standard Auction based on the trailing 5-day average BTMX holdings or trailing 30-day trade volume resulting in a maximum user allocation of 12,000 MAPS. Please see below for a chart illustrating the details:

• User’s trailing 5-day average unlocked BTMX holdings in Cash Account (excluding BTMX Investment under BitTreasure) will be calculated every day from January 20, 7:00 p.m. EST, 2021 to January 25, 7:00 p.m. EST, 2021 based on the user’s average holding period.

• User’s trailing 30-day trade volume (including cash trading and margin trading) will be calculated in USDT from December 26, 7:00 p.m. EST, 2020 to January 25, 7:00 p.m. EST. 2021.

4. The BTMX / BTMXP bid component of the auction serves as a tiebreaker. For example, if less than 850 participants bid at the bid cap, those that bid a greater amount of BTMX or BTMXP will win the auction, capped at 1,400 BTMX or 14,000 BTMXP. The conversion ratio between BTMX and BTMXP is 1 BTMX = 10 BTMXP.

5. If there are >850 participants bidding at the bid cap (200 USDT + 1,400 BTMX or 14,000 BTMXP), a random draw will be conducted to determine the winners of the auction.

6. Any BTMX or BTMXP collected from this auction will be consumed. Please note that BTMX consumption in the MAPS Standard Auction will NOT result in BTMX release from the private sale portion.

MAPS Uncapped Auction Overview

Main features of the Uncapped Auction include price discovery with a minimum bid amount and no maximum and participation by bidding 200 USDT + as much BTMX / BTMXP as you’d like. The auction will close at your bid or better if you are amongst the top-150 best bids. So please bid aggressively to win.

Detailed Terms & Conditions:

1. There are no BTMX holdings or trading volume requirements for users to participate in the Uncapped Auction. Uncapped Auction allows participants to bid for the chance to win a tranche of 2,000 MAPS. 150 participants will win the uncapped auction with a total auction allocation of 300,000 MAPS.

2. The Starting Bid is 200 USDT, indicating a price of $0.10 per MAPS; however, users may also bid as much BTMX or BTMXP as they’d like to increase their likelihood of winning the auction.

3. Each BitMax user can place multiple bids but can only win a single tranche of 2,000 MAPS in the Uncapped Auction.

4. Auction bid priority is (1) BTMX / BTMXP with the conversion ratio of 1 BTMX=10 BTMXP;  (2) Bidding Time.

5. Uncapped Auction will be closed at the USDT + BTMX or BTMXP price submitted by the 150th best bid.

The BTMX / BTMXP bid component of the auction serves as a tiebreaker. For example, those that bid a greater amount of BTMX or BTMXP will win the auction.

In the event that >150 of the most aggressive Uncapped Auction participants all bid 200 USDT + the same value worth of BTMX or BTMXP, the winners of the Uncapped Auction will be those that place their bids first. Bids submitted by participants 1 - 149 (i.e., participants willing to pay the greatest value of BTMX or BTMXP in addition to 200 USDT) may be partially refunded within 2 hours after the auction.

6. Any BTMX or BTMXP collected from this auction will be consumed. Please note that BTMX consumption in the MAPS Standard Auction will NOT result in BTMX release from the private sale portion.

Notes

1. From 9:00 a.m. EST – 10:00 a.m. EST on January 26, users can place bids in both the Standard and Uncapped auctions. Only USDT, BTMX, and BTMXP in a user’s Cash Account can be used as payment in the auctions. Users can submit bids multiple times. Once a new bid is submitted successfully, the corresponding amount of additional BTMX or BTMXP will be deducted from the user’s Cash Account. The last bid outstanding will be deemed as the user’s final bid.

2. To increase likelihood of winning in the Standard Auction, a user should monitor the 850th bid closely and submit bids that are greater than or equal to the 850th bid. If the Bid Cap is submitted by >850 participants, a user can still  have their bid being included in a random draw by submitting the Bid Cap.

3. To increase likelihood of winning in the Uncapped Auction, a user should monitor the 150th bid closely and submit bids that are greater than or equal to the 150th bid. 

The Uncapped Auction will close at the USDT + BTMX or BTMXP price submitted by the 150th best bid. This means that a user can bid a BTMX (or BTMXP) quantity well above the 150th bid and potentially have their bid partially refunded.

The logic of the Uncapped Auction is designed to achieve that all winners will pay the same price; therefore, a user does not need to be concerned about paying a premium relative to other participants in the Uncapped Auction.

4. For users who do not win the bid, their USDT and BTMX (or BTMXP) bids will be fully refunded within 2 hours after the auctions.

5. At the end of auctions, winners need to submit the BitMax.io account and auction confirmation code on Maps.me official website by January 27, 11:00 a.m. EST. Failure to timely submit the required information will be deemed as the users’ voluntarily forfeiting their bid item(s). In the event of such forfeiture, the USDT and BTMX (or BTMXP) bids will be refunded by January 28, 11:00 a.m. EST.

6. Bid Item Distribution Window: January 31, 11:00 a.m. EST - February 1, 9:00 a.m. EST

Eligibility Rules

1. Users are required to complete KYC 2 verification in order to be eligible for participation.

2. Users must agree to and sign the MAPS Auction Agreement.

3. Only users from the jurisdictions where local laws and regulations permit are eligible for the participation.

4. Eligibility requirements for Uncapped Auction: Meet the criteria of 1, 2, and 3;

5. Eligibility requirements for Standard Auction: Meet the criteria 1, 2, 3  and  trailing 5-day average BTMX holdings ≥30,000 BTMX or trailing 30-day trade volume ≥30,000 USDT.

Restricted Countries/Regions

Users from the following regions are NOT eligible for participation:

The United States, Balkans region, Belarus, Myanmar, Côte d'Ivoire, Cuba, Democratic Republic of the Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syrian Arab Republic, Zimbabwe, Algeria, Bangladesh, Bolivia, Cambodia, Ecuador, Nepal, Afghanistan, Burundi, Central African Republic, Singapore, Malaysia, Ethiopia, Guinea, Guinea-Bissau, Lebanon, Sri Lanka, Libya, Serbia, Somalia, South Sudan, Thailand, Tunisia, Trinidad and Tobago, Ukraine, Uganda, Venezuela, and Yemen.

BitMax.io reserves the final right to interpret and adjust these Terms and Conditions. For any abusive or suspicious activities, the users will be disqualified from the auction once identified.

We truly appreciate your continued support.

BitMax.io Team

Jan 17, 2021

Official Telegram: https://t.me/BitMaxioEnglishOfficial